Mortgage rates mixed in week

Dec. 20, 2012 at 11:36 AM
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WASHINGTON, Dec. 20 (UPI) -- Fixed mortgage rates on long-term loans in the United States were mixed in the week, the Federal Home Loan Mortgage Corp. said Thursday.

In a weekly tracking report Freddie Mac said the average 30-year fixed mortgage interest rate rose from 3.32 percent to 3.37 percent with an average 0.7 points, Freddie Mac said.

A year earlier, interest rates for 30-year, fixed-rate loans were at 3.91 percent.

For 15-year loans, interest rates fell from 2.66 percent to 2.65 percent with an average 0.7 of a point. A year ago, 15-year loan rates averaged 3.21 percent.

Average interest rates for five-year adjustable-rate mortgages were at 2.71 percent with 0.7 of a point. In the same week of 2011, rates for five-year ARM contracts stood at 2.85 percent.

The average interest rate for one-year ARM contracts fell from 2.53 percent to 2.52 percent in the week with 0.4 of a point. A year earlier, rates for one-year ARM loans stood at 2.77 percent.

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